Consumer Financial Protection Bureau Takes Action Against Payment Processor and Its Former CEO for Supporting Internet-Based Technical-Support Scams

Today, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court against BrightSpeed Solutions Inc. (BrightSpeed) and its founder and former chief executive officer, Kevin Howard, for knowingly processing payments for companies e…

Today, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court against BrightSpeed Solutions Inc. (BrightSpeed) and its founder and former chief executive officer, Kevin Howard, for knowingly processing payments for companies engaged in internet-based technical-support fraud. Chicago-based BrightSpeed was a privately owned, third-party payment processor founded and operated by Howard in 2015 and wound down business operations in March 2019.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-takes-action-against-payment-processor-and-its-former-ceo-for-supporting-internet-based-technical-support-scams/

Consumer Financial Protection Bureau Recommends Financial Institutions Report Suspected Financial Exploitation of Older Adults

The Consumer Financial Protection Bureau (Bureau) today issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older adult is the target or victim…

The Consumer Financial Protection Bureau (Bureau) today issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older adult is the target or victim of financial exploitation. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/bureau-recommends-financial-institutions-report-suspected-financial-exploitation-older-adults/

Bureau joins task force on market integrity and consumer fraud

Scammers are constantly finding new ways to steal money
from their victims, and anyone can potentially be a target. The Bureau has
online resources to help consumers prevent, recognize, and report scams and
fraud.

Scammers are constantly finding new ways to steal money from their victims, and anyone can potentially be a target. The Bureau has online resources to help consumers prevent, recognize, and report scams and fraud.

Read more / Original news source: https://www.consumerfinance.gov/about-us/blog/bureau-joins-task-force-market-integrity-consumer-fraud/